Builders See Continued Improvement in U.S. 55+ Housing Market
Feb 7, 2013
| Print this page
The segment of the housing industry that caters to 55+ homebuyers and renters is expected to continue improving in 2013, according to the National Association of Home Builders (NAHB).
NAHB gathered industry experts during the International Builders' Show in Las Vegas in late-January, 2013, to discuss the view of the 55+ housing industry. There, experts said they expect the trend to continue as the share of 55+ households in the United States continues increasing through 2020.
"NAHB is projecting that the number of housing starts in 55+ communities will increase 22% to 74,302 units in 2013, and another 20% to 89,071 in 2014," said Paul Emrath, NAHB's vice president of survey and housing policy research.
Builders and developers are seeing more interest in 55+ housing, but also action, as more people actually move to purchasing a new home.
"We are seeing more consumers overcome the inertia of waiting on the sidelines to buy a new home as they become more confident in their local market conditions," said Bob Karen of Owings Mills, MD, incoming chairman of NAHB's 50+ Housing Council.
The reason, experts believe, is that potential buyers are finding they can more easily sell their existing homes.
Back to Breaking News